High Earners 'Will Dodge New 50p Tax Rate'

[EternalOptimist]

The more people become self employed, the better for the economy as I see it. The self employed and those in small businesses contribute a massive amount of innovation, creativity and flexibility in the economy compared to the overgrown mammoth corporations. The self employed can't get government hand outs, unlike mammoth banks and car manufacturers so they are forced to get off their backsides and go out and sell their services, which must be of some use to someone otherwise they wouldn't be paid. Oh, and they keep CUK going too.

You miss the point. These dudes will not change their work pattern, style or attitude. It will be a device to avoid paying tax, true monday to friday syndrome

[Badger]

Is it a coincidence that the £150k threshhold happens to be slightly more than what a government minister earns.

[Pickle2]

Is it a coincidence that the £150k threshhold happens to be slightly more than what a government minister earns.

declares

[Platypus]

Also anyone earning over 300K will have to pay higher rate corp tax.
which reduces the benefits quite a bit.

not if they incorporate overseas...

[Moscow Mule]

not if they incorporate overseas...

You can't be a one man-band working here and be incorporated overseas.

[Mich the Tester]

You miss the point. These dudes will not change their work pattern, style or attitude. It will be a device to avoid paying tax, true monday to friday syndrome

Not until they're confronted with a recession and increased competition for a limited number of contracts; that's when the real entrepreneurs get going and the permatractors go back to permying. Net result is still that lots of new businesses get off the ground.

[Sysman]

You can't be a one man-band working here and be incorporated overseas.

Why not? Here I'm thinking of a one-man-band doing something else, such as opening a bookshop as a Plan B for semi-retirement.

[Moscow Mule]

Why not? Here I'm thinking of a one-man-band doing something else, such as opening a bookshop as a Plan B for semi-retirement.

The domicile (I think that's the correct term) of a company depends where the direction and control of the company comes from.

If you are the sole director, and live & work in the UK, even if the company is registered in France, Hector will want to tax you.

[AlfredJPruffock]

Is it a coincidence that the £150k threshhold happens to be slightly more than what a government minister earns.

Have you no faith in our Politicians ?

Is there no end to your cynicism ?



Alistair Darling need have no personal worries about the 50p tax rate he has introduced, because his cabinet minister's salary is under the parapet, at £141,866

[ThomasSoerensen]

Have you no faith in our Politicians ?

Is there no end to your cynicism ?



Alistair Darling need have no personal worries about the 50p tax rate he has introduced, because his cabinet minister's salary is under the parapet, at £141,866

Of course. Darling is not stupid. He just depends on stupid people to vote for his party.